Management Consulting

A couple of days ago, I posted this piece on a different blog at Perficient, but thought it was interesting enough to share it with those who work in the banking and insurance industries. –  –  – Mark Zuckerberg, Facebook’s CEO, recently took a trip to Alaska as part of his personal challenge to have […]

This morning, Perficient announced that it acquired Clarity Consulting, a $27 million Microsoft Gold partner and the developer of Clarity Connect. The company offers premier products and services that leverage Skype for Business as a communication platform, which allow companies to significantly reduce costs and complexities within their IT environments. Clarity has deep expertise in […]

Routine internal and independent audits can provide insight into sales trends and unusual activity, ensure that the right risk management checks are in place, and provide an opportunity for process improvement. Internal teams can be comprised of individuals from various committees in the company, such as regulatory and compliance, corporate responsibility, employee relations, human resources, […]

According to an April 2017 report from Kantar, a leading marketing research and media company, nine of the top 25 digital advertisers in 2016 were companies in the financial services industry, many of which have significantly increased spending within a one-year period. Here are the banks, insurers, and other financial services firms that are among […]

Although it’s been on YouTube for less than a month, IBM’s Watson at Work: Insurance video has been viewed over 1.2 million times. That’s because insurance companies are keen to streamline their claims processes. If the number of views isn’t enough to convince you that insurers are all about Watson, consider this: Amica Mutual Insurance, […]

Properly trained employees can help keep companies regulatory-compliant, increase sales, and gain the trust of customers and prospects. Financial services companies should have established standard operating procedures and training materials for all levels of employees, with oversight by managers. These training materials should stress the importance of ethical practices and provide employees with clear details […]

A new report released by eMarketer highlights the digital ad spending outlook and trends among financial services companies, including insurance, commercial banks, credit agencies, consumer finance companies, business credit institutions, and credit card agencies. It also includes companies engaged in the underwriting, purchase, sale or brokerage of securities and other financial contracts. The US Financial […]

Customer onboarding is one of the most important and scrutinized processes in financial services. Companies continuously refine their processes in an attempt to make customer acquisition more effective. How can they enroll customers fast enough to avoid application abandonment, while having enough safety measures in place to minimize potential risk? Enhanced new account opening processes […]

Most successful cross-selling programs have incentives in place that reward employees for selling additional products and services to existing clients. While financial incentives are often indispensable in certain parts of the industry, and there is nothing wrong with such programs at their core, they do open the door to unethical behavior that can have unfortunate […]

Let’s talk about what cross-selling is, in the simplest of terms. It is well known in the financial services industry that customers who sign up for multiple products and services are typically more loyal and, therefore, can bring organizations more revenue in the long run. These deeper relationships are what make cross-selling financial products so […]

At last year’s Milken Institute Global Conference, an annual event that attracts some of the world’s most extraordinary people to explore solutions to today’s most pressing challenges, a group of experts gathered for a discussion on the future of blockchain. Brian Forde, who is now a senior lecturer at the MIT Sloan School of Management, […]

Financial services organizations such as banks, insurance organizations, and credit card issuers, are creating mobile applications that are not just focused on the products or services they’re selling. Instead, they’re using mobile as a way to get in front of customers and non-customers alike. At the end of the day, their belief, and rightly so, is that […]